August 8, 2014 (Shareholders Foundation) - An investigation on behalf of investors in shares of Cobalt International Energy, Inc. (NYSE:CIE) was announced concerning whether certain Cobalt International Energy officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns, among other things, whether certain Cobalt International Energy officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

Cobalt International Energy, Inc. reported that its Net Loss increased from $71.60 million in 2008 to $589.02 million in 2013. Shares of Cobalt International Energy, Inc. (NYSE:CIE) traded in 2012 as high as $34.03 per share and as high as $30.20 per share in August 2013. Since then NYSE:CIE shares declined from over $30 to as low as $15.74 per share on December 16, 2013.

On August 4, 2014, Cobalt International Energy, Inc received a Wells Notice from the Staff of the U.S. Securities and Exchange Commission (the SEC) stating that the Staff has made a preliminary determination to recommend that the SEC institute an enforcement action against Cobalt International Energy, Inc, alleging violations of certain federal securities laws.
Cobalt International Energy, Inc said it intends to respond to the Wells Notice in the form of a Wells Submission in due course.
Cobalt International Energy, Inc stated it is currently subject to a formal order of investigation issued in 2011 by the U.S. Securities and Exchange Commission (the SEC) related to its operations in Angola and that it may be exposed to liabilities under the U.S. Foreign Corrupt Practices Act.

Shares of Cobalt International Energy, Inc. (NYSE:CIE) declined to $13.54 per share on August 7, 2014.